Prices & Legal Conditions
Hungarian property prices - especially in Budapest - have risen rapidly over the last few years. With the country’s entry into the European Union, many foreigners have made investments in property in Hungary.
Special conditions apply to foreigners
Buying property in Hungary has become much simpler in recent years, with only restrictions on location preventing international buyers from having the same rights as Hungarian citizens. Currently, expats looking to purchase property can only buy what are considered urban or residential homes, with the rural property market largely reserved for citizens. But this still leaves expats with a huge market choice when searching for property.
Where to look
Hungary is a landlocked country, so doesn’t have any costal resorts, but it does have wonderful landscapes, Central Europe's largest lake and a Mediterranean climate in the South. Above all, Hungary has one of Eastern Europe's most beautiful cities: Budapest.
Things to know about the process
Hungary is still quite a traditional country, so the first step of buying property is a verbal offer. Below you find information on negotiations, the contract of purchase and running costs that you have to bear in mind when buying property.
Financing a property purchase in Hungary
In Hungary bank loans and mortgages in Euros or Swiss Francs, as well as Hungarian Forints, are now available. From December 2008 loans and mortgages are mostly available in Hungarian Forints. It is possible to get mortgages for 50-70% of the purchase price of a property.
Utilities costs in Hungary
The purchase price and mortgage conditions are not the only thing to bear in mind when calculating the affordability of a property. Here are some of the additional costs you are facing when buying a house or flat in Hungary.